Purchases can be ascertained through the preparation of a
Stock account
Sales account
Total debtors control account
Total creditors control account
Correct answer is A
No explanation has been provided for this answer.
N300
N400
N600
N200
Correct answer is A
No explanation has been provided for this answer.
I, III, IV
I, II, III
I, II, IV
I and IV
Correct answer is B
Nonprofits can and do use the following sources of income to help them fulfill their missions:
The trader's capital in a single entry system is ascertained by preparing
Gross profit
Statement of affairs
Suspense account
Appropriation account
Correct answer is B
A Statement of Affairs is a document detailing a company's assets and liabilities. Generally prepared by a liquidator or appointed professional during certain insolvency proceedings, the document is later registered at Companies House, where it becomes available for public view.
N36,902
N27,502
N12,498
N43,098
Correct answer is A
Opening balance = 12,202 + cash recieved = 40,000 = 52,202
less closing balance
= 52,202 - 15,300 = 36902 (Amount spent during the period)